Black Box Intelligence, which is backed by Diversis Capital, has acquired MillerPulse LLC, a restaurant industry benchmarking firm. No financial terms were disclosed.
DALLAS, May 17, 2021– Black Box Intelligence™ (BBI), a portfolio company of Diversis Capital Partners, announced today that it will acquire restaurant industry benchmarking firm MillerPulse LLC. The move comes just four months after Diversis acquired a majority stake in Black Box Intelligence.
“We’re thrilled to add the MillerPulse membership to our database. The reputation Larry Miller and team have built is strong throughout the industry and we’re extremely excited to see the two powerhouse data sets come together to create an even more robust set of benchmarks that will truly be unmatched in the marketplace,” said Kelli Valade, CEO & President of Black Box Intelligence.
The acquisition will add MillerPulse’s 50,000+ restaurant units to Black Box Financial Intelligence™, the leading source of industry sales, traffic, segment, cuisine and other financial benchmarks. MillerPulse, founded in 2013, provides restaurant operators and observers near-real time insights on all restaurant segments in over 120 U.S. markets. Larry Miller, co-founder of MillerPulse, will stay involved as an advisor to Black Box going forward.
“We’ve long respected the work of Black Box Intelligence and are very excited to join forces with them. The combination of these two companies builds on each other’s strengths, notably restaurant industry and financial markets expertise, unmatched breadth in all restaurant segments and unrivaled depth of market level data. It will be the de facto source for real transactional restaurant industry insights,” said Larry Miller, Co-Founder of MillerPulse.
With notable strength in the quick service segment, rolling the MillerPulse offering into the Black Box Intelligence suite of products further cements BBI’s position as the indisputable go-to resource for restaurant industry data and insights. Black Box Intelligence offers an unparalleled suite of products to measure and drive restaurant performance, including Black Box Workforce Intelligence™, supplying key workforce metrics, and Black Box Guest Intelligence, providing unrivaled guest satisfaction and sentiment reporting.
“The combination of Black Box Intelligence’s and MillerPulse’s data sets significantly enhances BBI’s value proposition for restaurant customers, further entrenches the company as the market leader in restaurant market data and will provide our customers an unparalleled view of restaurant industry trends across the US,” added Dave Muscatel, Operating Partner at Diversis.
About Black Box Intelligence™
Black Box Intelligence™ is the leading data and insights provider of workforce, guest, consumer and financial performance benchmarks for the hospitality industry. The Black Box Intelligence product suite is the industry standard for operators seeking to achieve best-in-class performance results. With the largest and most reliable set of real restaurant data in the marketplace, Black Box Intelligence currently tracks and analyzes nearly 300 brands, 2.4 million employees, 50,000 restaurant units and $76 billion in annual sales revenue. Black Box Intelligence is also the producer of the Global Best Practices Conference held annually in Dallas, Texas.
MillerPulse delivers market level insights to restaurant companies and industry observers via member company panel that represents approximately $90 billion in annual restaurant sales and over 50,000 US restaurants. MillerPulse sets itself apart from other industry trackers by having one of the largest Quick Service Restaurant panels, a collaborative model in member companies provide us with real transactional POS data on a weekly basis in over 120 US markets and our web-tool that allow customers to create customized data queries.
About Diversis Capital
Founded in 2013, Diversis is a software and technology focused private equity fund that invests in lower middle-market companies, targeting situations where it can add unique value in helping a company reach the next level. With a collaborative approach to investing, its Operating Partners and Strategic Advisors work alongside management teams to help build successful organizations positioned for long-term growth.